US banking giant Citigroup has acquired shares in private lender RBL Bank Ltd. and South Indian Bank Ltd. through open market transactions on Monday.
The shares were purchased after a Mauritius-based fund trimmed its stake in both the banks.
Citigroup Global Markets Mauritius Pvt. bought 66.97 lakh shares—representing 1.11% equity—in RBL Bank for Rs 171 crore. The shares were acquired at Rs 255.4 apiece, according to block deal data on the BSE.
The seller Copthall Mauritius Investment Ltd. offloaded an equal number of shares for the same price. It had a shareholding of 1.29%, as of March.
Foreign portfolio investors own 28.26% stake in the Mumbai-based lender.
The Citigroup arm mopped up 1.76 crore shares (0.84% stake) of South Indian Bank for Rs 28.78 apiece. The deal value aggregates to Rs 50.8 crore.
Overseas entities held 14.99% stake in the Kerala-based bank as of March.
Shares of RBL Bank closed 0.37% higher while those of South Indian Bank declined 3.25% on Monday, as compared with a gain of 0.67% in the benchmark BSE Sensex.
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